Bitcoin is a digital currency, also known as a cryptocurrency, that emerged after the financial crisis and is not underpinned by a central bank. It allows people to bypass banks and traditional payment methods for goods and services – an idea that has evidently caught the imagination of some investors, because its price has surged by more than 900% in 2017. Bitcoin – created by “miners” who use high-powered computers to solve complex mathematical problems – must be stored online using a digital wallet, and can be bought or sold using exchanges such as Bitstamp, Bithumb and Kraken.Bitcoin disciples argue its price will rise further, viewing volatility as a necessary bump on the path to even higher valuations.